In today’s world of cell phones, mini laptops and MP3 players, most people have at least one time-telling tool with them. Since these devic es are so common, is time running out for the 500-year-old watch? According to some consumers, yes. New Jersey teenager Charlie Wollman says a watch is “an extra piece of equipment with no necessary function. ” Many young adults agree—and use their cell phones to tell time. Louis Galie, a senior vice president at Timex, said that fewer young people wear watches today than five years ago. As a result, some people claim that the watch industry is at a crossroads.